BTC
In the early morning, seeing ETH drop, do you feel that there will be continuous selling pressure in the future? No, history does not equal the future.
In the early morning, a selling pressure of 350 million ETH was completely absorbed by institutions. Historically, there was an incident where a hacker exchanged 180 million for ETH, leading to an 800-point surge in ETH.
Now, with a selling pressure of up to 350 million, the price has barely been impacted. Because it has all been absorbed.
This shows that institutions indeed have a strong interest in ETH, and are supporting the price. Note that this is called supporting the price, which means it is not over yet.
Therefore, it is currently known that institutions are strong in ETH, bearing the selling pressure of BTC. This is a positive action for the immortal bull.
In the future, due to a crucial group of sellers in these two days, as long as we can hold on, we can continue to expect the big bull.
For the price, it is about whether it can maintain a low level, and as long as it doesn't collapse, a small upward movement within the range cannot be used as an assessment that the selling hasn't ended; history does not equal the future, especially since it is only within the low range.
Waiting to support the selling pressure over these few days.